Austin improves bucket reach with acquisition

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Mainetec Hulk excavator bucket
‘That market is about 10-times the size of Australia in terms of number of buckets used’

Austin Engineering CEO David Singleton says the ASX-listed company’s A$19.6 million acquisition of niche mining excavator bucket manufacturer Mainetec can help it become a leader in a “high-value” market. Austin was already the “global leader in the truck trays market”, he said on a call with analysts.

Austin reported a four-fold increase in its mining bucket sales in FY22 compared with FY21.

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